New single-family home sales rebounded 9.4% in February as builders continue to sell homes at a much faster rate than they can build them.The U.S. Census Bureau reported that new-home sales jumped from a seasonally adjusted annual rate of 1.12 million in January to 1.23 million in February. Builders have a huge backlog of unfilled orders, and lenders can expect to see more loan closings than sales this year, according to National Association of Home Builders economist Michael Carliner. About 100,000 homes were started in 2004 that won't get to closing until this year. "Even though we expect sales to be down 4%-5%, the number of loan closings should be up in 2005," he said.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
8h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
8h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
8h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
11h ago -
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25